Solve the System by the Method of Elimination $$\left\{ \begin{array} { c } 5 x - y = 11 \\- 7 x - y = - 25\end{array} \right.$$

question 60

Multiple Choice

Solve the system by the method of elimination.
$$\left\{ \begin{array} { c } 5 x - y = 11 \\- 7 x - y = - 25\end{array} \right.$$

• A) \(( 1,18 )\)
• B) \(( 3,4 )\)
• C) \(\left( - \frac { 7 } { 6 } , - \frac { 157 } { 6 } \right)\)
• D) \(\left( - 5 , \frac { 6 } { 5 } \right)\)
• E) inconsistent

Recognize the role of direct materials, direct labor, and applied overhead in product costing.

Understand the impact of lean manufacturing on production efficiency and employee functions.

Identify the appropriate costing system for different types of production environments.

Recognize prime costs and the significance of costing systems in cost management.

---

Definitions:

Cash Payment

A transaction where a payment for goods or services is made using physical currency or through a bank transfer.

Direct Method

A way of presenting the cash flow statement where major categories of gross cash receipts and cash payments are disclosed.

Cost of Goods Sold

The total cost of all materials, labor, and overhead used to produce goods sold by a business during an accounting period.

Merchandise Inventory

Goods that a company holds for the purpose of selling them to customers, often a significant current asset on the balance sheet.